NIVS IntelliMedia Lists on NYSE Amex
China Securities Journal, 3/17/09
Chinese consumer audio and video product manufacturer NIVS IntelliMedia Technology Group (NYSE Amex: NIV) has listed on the New York Stock Exchange's Amex board under the ticker symbol "NIV". The Guangdong-based company raised approximately USD 2 mln in funding through the IPO, selling 550,000 shares at USD 3.5 per share.
NIVS IntelliMedia was established in 1998 by current company CEO and chairman Li Tianfu. The company is primarily involved in the design, manufacture, sale and marketing of televisions, DVD players, MP3 players, and set-top boxes (STBs).
Editor';s Note: NIVS executive vice president Wang Guofu revealed that prior to its IPO, the company had raised USD 11.8 mln in private equity, and did not rule out further funding in the future. The company states that currently it has LCD television orders worth USD 3 mln from British and Spanish customers, and is looking to expand its production capacity. Wang stated that 50% of the funds raised from the IPO would be used to expand its LCD television production lines and another portion would be used to increase its market share in the LCD television and intelligent sound system markets. The remainder would be used as working capital for the daily operations of the company.
Keywords: NIVS IntelliMedia NIV consumer electronics hardware TV set Li Tianfu DVD IPO MP3 set-top box disc player Wang Guofu
Sending
